Federal Register #SR-IEX-2026-42

SEC notice on IEX’s proposed changes to Discretionary Peg order handling

The Securities and Exchange Commission (SEC) notice describes a proposed market-rule change by Investors Exchange LLC (IEX), not a procurement opportunity. - Government entity: Securities and Exchange Commission (SEC). - Proposing organization: Investors Exchange LLC (IEX). - Proposed change: Bookable Discretionary Peg (D-Peg) orders received during quote instability or quote imbalance would post at their resting price instead of initially seeking execution at the midpoint or the order’s limit price. - Related rule updates would address incoming D-Peg orders in locked or crossed markets. - The proposal would not change non-bookable D-Peg orders or the behavior of resting D-Peg orders. - No products, services, quantities, part numbers, contract value, or period of performance are specified; this is a securities-market rulemaking notice, not a request to buy goods or services.

Description

Investors Exchange LLC (IEX) filed a proposed rule change to modify how Discretionary Peg (D-Peg) orders are handled when received during periods of quote instability or quote imbalance. For bookable D-Peg orders, the proposal would have the order post at its resting price instead of initially seeking execution at the midpoint or the order’s limit price. It also makes conforming changes to related IEX rules, including treatment of D-Peg orders in locked or crossed markets. The change does not affect non-bookable D-Peg orders or the behavior of resting D-Peg orders.

View original listing